Changes in executive management - appointment of interim CEO
Lysaker, Norway, 30.11.2017
CEO Idar Horstad has today informed the Board in Magseis ASA that he will resign as CEO of Magseis for personal reasons.
The Board would like to thank Mr. Horstad for the work he has done for Magseis over the past year and wish him all the best in his future endeavours. Mr. Horstad will remain with the company for a period to be agreed to facilitate the transition.
The Board has constituted Per Christian Grytnes as CEO. Mr. Grytnes has an international executive background from oil & gas companies, service companies and start-ups. He started his career as a researcher at Rogaland Research and later joined Saga Petroleum. He developed ODS-Petrodata into a world leader in rigs, marine and field construction market intelligence. ODS-Petrodata was acquired by IHS Inc. He continued as an executive for IHS Energy content and data.
This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act
* * *
Magseis is a rapidly growing Norwegian geophysical company providing ocean bottom seismic ("OBS") acquisition. The Company's proprietary Marine Autonomous Seismic System ("MASS") enables highly cost-efficient acquisition and delivers superior data quality. The Company is headquartered in Oslo, Norway and has offices in Norway, Sweden and Singapore
For further information, please contact:
Jan P. Grimnes, Chairman
Tel: +47 98 23 03 32